By David Strow
<strow@lasvegassun.com>
LAS VEGAS SUN
April 25, 2001
The Regent Las Vegas' financial performance is improving as interest in the bankrupt Summerlin property heats up,
according to court documents filed Tuesday.
From Jan. 1 to April 8, the Regent posted negative operating cash flow of $2.27 million, said an affidavit filed
by Regent Chief Restructuring Officer Lanis O'Steen. While this is not the kind of performance that will ensure
the Regent's long-term stability, it is $3.7 million above the projections that were originally presented to the
bankruptcy court.
As a result of the Regent's stronger financial performance, the property has borrowed $10 million of its $20 million
bankruptcy credit line to date, $4 million less than expected. That has positive implications for the property,
as the credit line provides the cash needed to keep the Regent open until the property can be sold or refinanced.
It also means a higher price could be commanded for the property, O'Steen said.
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